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house minority leader nancy pelosi sought to project coughs, and even though she said no one broached specific figures for an overall deal. >> i think it would be good if we did something in the 4 trillion dollar category of deficit reduction which is similar to the grand bargain that was discussed last year. >> nonpartisan budget hawks eyeing the opening round of talks with cautious optimism. >> i'm worried people say if i don't get my way i'll go off the cliff and you hear that on both sides, frankly, but i've also seen incredible interest and openness to putting in place a deal, both from president obama and leader boehner, and a number of members of congress. >> an aide to senator majority leader harry reid told fox news, the democrats are open to various tax loopholes only if the republicans agree first to raise taxes on those making $250,000 or higher. sound familiar, chris. >> does a bit. thanks from the white house. president obama won reelection on a promise to raise taxes on high earners as a plan to raise our massive debt. republicans say they agree with the goal, but want
house minority leader nancy pelosi sought to project coughs, and even though she said no one broached specific figures for an overall deal. >> i think it would be good if we did something in the 4 trillion dollar category of deficit reduction which is similar to the grand bargain that was discussed last year. >> nonpartisan budget hawks eyeing the opening round of talks with cautious optimism. >> i'm worried people say if i don't get my way i'll go off the cliff and you hear...
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just in the last day nancy pelosi offering wiggle room. john boehner, mitch mcconnell saying they want the bush tax cuts for everyone. joe, will they have to bend on that? isn't that really the issue? will they bend on the republican side? >> the republicans are going to have to bend. we have to get this done. we've only got 46 days before the -- before we would fall off this fiscal cliff and to fall off the cliff would mean 3.9% hit for gdp next year. we can't afford that because that would potentially throw us into another recession. we want to avoid that at all costs. the big issue i think for most people would be taxes. most people -- and governor rendell said, well, it's not just a matter of tax increases on the wealthiest americans but it's a host of spending challenges that we face across the board that would impact millions of people and certainly impact us in a huge way. i think republicans have to bend. republicans are going to be looking at of course cuts in spending and cuts in entitlements as well as the possibility of new rev
just in the last day nancy pelosi offering wiggle room. john boehner, mitch mcconnell saying they want the bush tax cuts for everyone. joe, will they have to bend on that? isn't that really the issue? will they bend on the republican side? >> the republicans are going to have to bend. we have to get this done. we've only got 46 days before the -- before we would fall off this fiscal cliff and to fall off the cliff would mean 3.9% hit for gdp next year. we can't afford that because that...
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then nancy pelosi, the house minority leader, saying that this has to be about cuts. this has to be about revenue. this has to be about growth and that she is confident a solution is in sight. sounds good, too. and then the house minority leader or rather the minority leader mitch mcconnell also suggesting that this was a constructive meeting and that we are prepared to put revenue on the table. they just emerged from the meeting. looked like they were going right back in. maybe they were going to have lunch. i don't know. they sure deserve it if they're able to come to rhetoric like that any any case. take to you break for a moment and hopefully i can scramble up wolf blitzer. given the fact we're so busy with breaking news he is probably busy as well. [ knock on door ] cool. you found it. wow. nice place. yeah. [ chuckles ] the family thinks i'm out shipping these. smooth move. you used priority mail flat rate boxes. if it fits, it ships for a low, flat rate. paid for postage online and arranged a free pickup. and i'm gonna track them online, too. nice. between thos
then nancy pelosi, the house minority leader, saying that this has to be about cuts. this has to be about revenue. this has to be about growth and that she is confident a solution is in sight. sounds good, too. and then the house minority leader or rather the minority leader mitch mcconnell also suggesting that this was a constructive meeting and that we are prepared to put revenue on the table. they just emerged from the meeting. looked like they were going right back in. maybe they were going...
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. >> reporter: house minority leader nancy pelosi says congress wants to show a message of confidence to the markets and she said they should aim to strike a deal on the fiscal cliff by christmas. the special lasted just over an hour. president obama said nothing explicit about reining in entitlement spending. instead the chief executive spoke about approaching the deficit in a balanced way and talked about long-term impediments to growth. >> i think we are all aware that we have some urgent business to do. we have got to make sure that taxes don't go up on middle class families and our economy remains strong that we are creating jobs and that's an agenda democrats and republicans and independents, people all across the country share. >> reporter: republican leaders gave no indication they are willing to entertain the idea that the president wants them to, namely the raising of tax rates on some particular categories of income earners. the top republican told reporters he believes the dilemma isn't because we tax too little, but because we spend too much. >> we fully understand that y
. >> reporter: house minority leader nancy pelosi says congress wants to show a message of confidence to the markets and she said they should aim to strike a deal on the fiscal cliff by christmas. the special lasted just over an hour. president obama said nothing explicit about reining in entitlement spending. instead the chief executive spoke about approaching the deficit in a balanced way and talked about long-term impediments to growth. >> i think we are all aware that we have...
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nancy pelosi was saying yesterday that she would welcome a number that both sides could start working toward and some republicans also say that. do you think there is any hope that maybe by just november, the end of november, there could be consensus on, okay. here's the top line where we're going to write the bill to. do you think that is possible? >> i don't want to minimize the difficulty ahead but i definitely think and get the impression from everything that both sides have said post election that there is some hope here in part. and greater hope for an agreement in the shorter term. there will be a lot of work that would have to be done next year to fill in the details but more of a chance of a deal now since you have the same cast of characters back at the table than you would have if mr. romney would have been elected. they know each other. they've talked about these issues before. they've already winoed down the issues. >> fascinating. if that becomes true. we'll talk more and get other opinions about this. first we have a trivia time. since 1860 how many republican and democ
nancy pelosi was saying yesterday that she would welcome a number that both sides could start working toward and some republicans also say that. do you think there is any hope that maybe by just november, the end of november, there could be consensus on, okay. here's the top line where we're going to write the bill to. do you think that is possible? >> i don't want to minimize the difficulty ahead but i definitely think and get the impression from everything that both sides have said post...
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nancy pelosi suggested maybe there is a bit of wiggle room in the $250,000 amount. maybe we could move it higher who is considered rich in this country. is that something though that you think john boehner is even interested in? >> i think it is probably something that he might consider. this is how negotiations work. congressional "fight club." they stake out their positions and sort of move closer together as they come together and actually meet and discuss this. there are couple options what they can do on the table. president signaled perhaps it doesn't have to be all about getting rates to clinton era levels. perhaps getting revenue from other places. i think that would be healthier, broader tax reform kind of deal made. i'm not sure whether they're all savvy enough to make that deal. i mean. martha: seems to me that is the major issue here. that is what john boehner was hinting at. he is suggesting that if you remove some of the loopholes that is a tax increase on the wealthy in this country. i feel like that is a message that has gotten across in perhaps a cl
nancy pelosi suggested maybe there is a bit of wiggle room in the $250,000 amount. maybe we could move it higher who is considered rich in this country. is that something though that you think john boehner is even interested in? >> i think it is probably something that he might consider. this is how negotiations work. congressional "fight club." they stake out their positions and sort of move closer together as they come together and actually meet and discuss this. there are...
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let's listen to house minority leader nancy pelosi. >> lifting the spirits and confidence in our country we will have an economic downturn that must be avoided. we understand our responsibility there. we understand that it has to be about cuts. it has to be about revenue. it has to be about growth. it has to be about the future. so as we cut investments and as we talk about revenue, we have to do so in a way that promotes growth and supports the future. it was good. i feel confident that a solution may be in sight. mitch? >> i can only echo the observations of the other leaders it was a constructive meeting. we all understand where we are. i can say on the part of my members that we fully understand that you can't save the country until you have entitlement programs that fit the demographics of the changing america in the coming years. we're prepared to put revenue on the table, provided we fix the real problem. even though most of my members, i think without exception believe that we're in the dilemma we're in not because we tax too little but because we spend too much. one final observ
let's listen to house minority leader nancy pelosi. >> lifting the spirits and confidence in our country we will have an economic downturn that must be avoided. we understand our responsibility there. we understand that it has to be about cuts. it has to be about revenue. it has to be about growth. it has to be about the future. so as we cut investments and as we talk about revenue, we have to do so in a way that promotes growth and supports the future. it was good. i feel confident that...
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pelosi needs to become speaker again. and that's going to happen if the republicans keep thinking like mitt romney. >> you know, that's the question, ashley, and that is as you see the demographic changes, younger voters tend to be more liberal. we have a lot of hispanic people moving into the country, having a lot of kids and voting and being citizens, becoming part of the political process more than ever. and you have african-american voters, an african-american president, but there are other factors that have led them to the democratic party potentially. you see a lot of potential for the democratic party to grow. then when you add insult to injury, the other party says you were all bought, it seems to me that would just sort of fortify the democratic tendencies of the people we're talking about here. >> well, it's unclear what wing of the republican party mitt romney, you know, is going to be representing going forward, and i think that's one of the reasons you saw -- >> the mayor says he's out of business. i'm not su
pelosi needs to become speaker again. and that's going to happen if the republicans keep thinking like mitt romney. >> you know, that's the question, ashley, and that is as you see the demographic changes, younger voters tend to be more liberal. we have a lot of hispanic people moving into the country, having a lot of kids and voting and being citizens, becoming part of the political process more than ever. and you have african-american voters, an african-american president, but there are...
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this morning president obama and the four top congressional leaders john boehner, nancy pelosi, harry reid, mitch mcconnell all will begin talks at the white house. cnn's jill dougherty is following those developments for us this morning. she's in our washington, d.c. bureau. good morning, jill. >> hello, soledad. well, this is it. both sides are going to be there. they're looking at the tone. they're looking at the president, what kind of tone will he set? you have to say that they're coming in both sides with their essential positions intact. all, both sides are saying that there is some room for a compromise. so, the essential thing is how do you compromise? if you look at the positions, let's say, of the republicans, and it's most strongly, as i say, relayed by senator mitch mcconnell, he does not, and they do not, want any tax increases. so let's listen to him first. >> and let's be clear, an opening bid of $1.6 trillion of new taxes just isn't serious. it's more than simpson-bowles or any other bipartisan commission has called for. it's been unanimously rejected in the house and
this morning president obama and the four top congressional leaders john boehner, nancy pelosi, harry reid, mitch mcconnell all will begin talks at the white house. cnn's jill dougherty is following those developments for us this morning. she's in our washington, d.c. bureau. good morning, jill. >> hello, soledad. well, this is it. both sides are going to be there. they're looking at the tone. they're looking at the president, what kind of tone will he set? you have to say that they're...
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pelosi said the goal is to get it done before christmas. we should be so lucky. >> we should be so lucky. holidays are coming up. it is a beautiful back grdrop b you look a little chilly. >> it is a little cold. >> brianna keilar, thank you. >>> what do fiscal cliff talks mean for your money? for your 401(k)? wall street investors might get nervous if talks aren't wrapped up quickly. i want to bring in time magazine's assistant managing editor, rana faruhar. you say some key people are worried next about what is coming up with stocks and bonds, why is that? >> a lot of the top investors in country see that the market has been down. there are major worries still about the fiscal cliff. i wish i could be as optimistic as some, but frankly i'm becoming a little bit worried. i think the issue of tax hikes for the rich in particular is going to be very politically contentious and there are worries we may not make that interviewer deadline and, in fact, if we go over it and stay over it for a few months, we could see the u.s. go back into recessi
pelosi said the goal is to get it done before christmas. we should be so lucky. >> we should be so lucky. holidays are coming up. it is a beautiful back grdrop b you look a little chilly. >> it is a little cold. >> brianna keilar, thank you. >>> what do fiscal cliff talks mean for your money? for your 401(k)? wall street investors might get nervous if talks aren't wrapped up quickly. i want to bring in time magazine's assistant managing editor, rana faruhar. you say...
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we heard nancy pelosi, democratic leader say she hopes president obama stands firm. that his campaign pledge was that anybody making more than $250,000 should have their tax rates go up to the bush era tax levels. but it sounds like there is room for negotiation. do you believe that democrats should give up on the $250,000 and say go with a million dollars if that will help strike a deal? >> well, i'm willing to compromise. i'm not that -- interested in going up to a million dollars. although i don't think a person is wealthy at $250,000. but i think that the president has got to work a deal and we've got to be flexible. let me just be very, very clear. if the president came and said that he struck a deal with boehner and mcconnell to go up to a million dollars, i would not be a happy person. however, i would go and have many conversations with myself and talk to myself about the fact that compromise is not necessarily capitulation. and that democracy requires compromise. we've not had democracy in many ways over the past four years because people believe that you kn
we heard nancy pelosi, democratic leader say she hopes president obama stands firm. that his campaign pledge was that anybody making more than $250,000 should have their tax rates go up to the bush era tax levels. but it sounds like there is room for negotiation. do you believe that democrats should give up on the $250,000 and say go with a million dollars if that will help strike a deal? >> well, i'm willing to compromise. i'm not that -- interested in going up to a million dollars....
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majority leader harry reid, mitch mcconnell and house speaker john boehner and nancy pelosi. they're all going to try to make some progress in coming to an agreement in how to increase revenue and decrease spending before the tax cuts expire for everyone and pre-determined spending cuts kick in automatically. the president said he's willing to compromise but not if it means protecting the top 2% from paying their fair share. "huffington post" reports that a coalition of labor groups are mounting a campaign to put pressure on coming to a progressive solution to avoid the fiscal cliff. they would air ads targeting house republicans and some senate democrats they say protect healthcare, education social security and rely heavier on higher tax it was. peter king spoke briefly with report he is this morning following general david petraeus' testimony behind closed doors. did he not give many details stating it's an ongoing investigation. >> they now clearly believe that it did not arise out of a demonstration. it was not spontaneous and it was clear terrorist involvement. >> she's
majority leader harry reid, mitch mcconnell and house speaker john boehner and nancy pelosi. they're all going to try to make some progress in coming to an agreement in how to increase revenue and decrease spending before the tax cuts expire for everyone and pre-determined spending cuts kick in automatically. the president said he's willing to compromise but not if it means protecting the top 2% from paying their fair share. "huffington post" reports that a coalition of labor groups...
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boehner and mcconnel and nancy pelosi and harry reed reed. without a deal billions of tax increases go into affect january 1st. and those are your head lines. i would like to be a fly on the wall for that meeting. >> brian: there is shock waves across the markets. coming in way above expectations, remember that explanation. hurricane sandy's fault. everyone gets fired when a hurricane hits? what kind of logic is that. >> a crash scene with a baby girl trapped in the twisted metal. but you haven't seen the hero that jumped inside to save her, he's coming up this hour. [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. it's a new way to get cash back deals, and it's called bankamerideals! i sign into my online banking... click the "cash back deals tab"... and pick the deals i want. i just use my bank of america debit or credit card when
boehner and mcconnel and nancy pelosi and harry reed reed. without a deal billions of tax increases go into affect january 1st. and those are your head lines. i would like to be a fly on the wall for that meeting. >> brian: there is shock waves across the markets. coming in way above expectations, remember that explanation. hurricane sandy's fault. everyone gets fired when a hurricane hits? what kind of logic is that. >> a crash scene with a baby girl trapped in the twisted metal....
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meant to pelosi. a lot of kudos to the president as well, but nancy pelosi played a major role. i could go on and on. that the policy is a prolific and is a wonderful leader. -- nancy pelosi is a prolific and wonderful leader. host: thank you so much for joining us today. that is our show for the "washington journal." we will take you now live to the house floor. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] chaplain, father conroy. chaplain conroy: let us pray. eternal god, we give you thanks for giving us another day. we come to the end of a week during which some members of this people's house have come to complete their service in the congress and others have come to prepare for their opportunity to serve this great nation. it is a time of tremendous transition, a time thought with trendation and some uncertainty. send your spirit of peace and calm, let all might have confidence in your faithfulness to us and no matter what lies ahead, your grace is abundantly available. now we approach a week during which al
meant to pelosi. a lot of kudos to the president as well, but nancy pelosi played a major role. i could go on and on. that the policy is a prolific and is a wonderful leader. -- nancy pelosi is a prolific and wonderful leader. host: thank you so much for joining us today. that is our show for the "washington journal." we will take you now live to the house floor. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] chaplain,...